LARSON: Congress Should Enhance and Expand Social Security Benefits
Washington, D.C. - Today, Ways and Means Social Security Subcommittee Ranking Member Rep. John B. Larson (CT-01) released the following statement after a hearing on the 2017 Social Security Trustees Report with Chief Actuary, Steve Goss:
"Social Security is America's insurance program, and millions rely on the benefits they have earned when they retire, should they become disabled, or for their survivors. Social Security is the insurance that Americans have paid for with every paycheck and are therefore entitled to its benefits. The 2017 Social Security Trustees Report released yesterday shows that Social Security has $2.8 trillion in reserves and remains an important lifeline for 61 million Americans. Given the importance and economic impact of Social Security, Congress shouldn't wait until 2034 to act to strengthen the system.
“That is why I have introduced the Social Security 2100 Act (H.R. 1902) to enhance Social Security benefits and ensure that that it remains solvent into the next century. This plan will improve the cost of living adjustment (COLA) to provide seniors with the financial boost they need in retirement and does so without raising the national debt. It will ensure that no one retires into poverty and asks millionaires and billionaires to pay their fair share. The Social Security 2100 Act (H.R. 1902) has the support of over 160 cosponsors. The time for action is now. Congress should come together to strengthen America's insurance program for the future."
To watch the full hearing, please click here.